GoHealth (NASDAQ:GOCO) Posts Quarterly Earnings Results, Beats Expectations By $1.87 EPS

GoHealth (NASDAQ:GOCO) released its quarterly earnings results on Thursday. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.06) by $1.87, Zacks reports. GoHealth had a negative net margin of 3.21% and a negative return on equity of 8.74%. The company had revenue of $34.19 million for the quarter, compared to analyst estimates of $102.36 million.

GoHealth Price Performance

Shares of GOCO traded down $0.07 during mid-day trading on Friday, reaching $2.54. 50,340 shares of the stock traded hands, compared to its average volume of 55,635. The firm has a fifty day moving average price of $4.37 and a 200 day moving average price of $5.57. GoHealth has a 1 year low of $2.42 and a 1 year high of $21.00. The company has a market cap of $72.67 million, a price-to-earnings ratio of -0.71 and a beta of 1.57. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 2.64.

Wall Street Analyst Weigh In

GOCO has been the subject of a number of recent analyst reports. Noble Financial restated an “outperform” rating on shares of GoHealth in a research note on Friday, August 8th. Royal Bank Of Canada lowered their target price on GoHealth from $18.00 to $12.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 28th. Weiss Ratings reiterated a “sell (e+)” rating on shares of GoHealth in a research note on Wednesday, November 5th. Finally, Wall Street Zen cut GoHealth from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, GoHealth presently has a consensus rating of “Hold” and an average price target of $12.00.

Hedge Funds Weigh In On GoHealth

Institutional investors have recently modified their holdings of the company. American Century Companies Inc. purchased a new stake in shares of GoHealth during the 2nd quarter valued at about $63,000. Franklin Resources Inc. purchased a new position in GoHealth during the third quarter worth $66,000. Bank of America Corp DE increased its position in GoHealth by 22.8% during the fourth quarter. Bank of America Corp DE now owns 7,831 shares of the company’s stock valued at $105,000 after acquiring an additional 1,452 shares during the last quarter. Cubist Systematic Strategies LLC lifted its holdings in shares of GoHealth by 297.3% in the 1st quarter. Cubist Systematic Strategies LLC now owns 10,915 shares of the company’s stock worth $134,000 after acquiring an additional 8,168 shares during the last quarter. Finally, Bridgeway Capital Management LLC boosted its stake in shares of GoHealth by 8.2% during the 2nd quarter. Bridgeway Capital Management LLC now owns 27,066 shares of the company’s stock worth $150,000 after purchasing an additional 2,058 shares during the period. 24.21% of the stock is currently owned by institutional investors.

GoHealth Company Profile

GoHealth, Inc operates as a health insurance marketplace and Medicare-focused digital health company in the United States. The company operates a technology platform that leverages machine-learning algorithms of insurance behavioral data to optimize the process for helping individuals find the health insurance plan for their specific needs.